Category Archives: MML Investors Services

Thomas H. Oliphint-Discloses Discharge from LPL Financial-San Antonio, TX

October 2017-San Antonio, TX 

We are currently investigating Thomas H. Oliphint , (CRD#1172870) ,  a  stockbroker who is not currently registered and who last was employed by LPL Financial until he was discharged for violation of firm policy regarding outside business activities in 11/2016. .

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Oliphint’s FINRA record discloses  2 prior customer disputes that were either denied or closed.

Oliphint’s  prior securities industry employment includes, MML Investor Services and New England Securities. He discloses business affiliation Grand Purpose Advocate.

If you have questions about  an account handled by Thomas H. Oliphint,  call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Kyle J. Gardner-Former MML Investor Services Broker-Discloses Customer Dispute Over REITs-Plano, TX

May 2017- Plano, Texas

The FINRA records  of Kyle J. Gardner,  a  stockbroker who is currently employed by  SCF Securities   disclose a pending  customer dispute for losses on investments in real estate investment trusts (REITs).

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the currently pending customer dispute (internal case #201626218) a customer Gardner’s prior employer , MML Investor Services LLC, alleges damages in an unstated amount related to the purchase of two REITs in 2010. The customer alleges that he was not advised that the investment is illiquid and is not redeemable and that in 2015 Gardner advised him to close an individual account holding mutual funds to offset current losses and reinvested the funds in the same position.

Gardner has been employed by SCF Securities since 7/2014. His prior employment includes WFG Investments in Plano and MML Investors Services in Dallas.

If you have questions about an account  handled by Kyle J. Gardner call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Thomas H. Oliphint-Former LPL Financial Broker-Discloses Customer Disputes and Termination From Employment-San Antonio, TX

April 2017-San Antonio, TX 

According to publicly available records Thomas H. Oliphint , (CRD#1172870) ,  a  stockbroker who is not currently registered and who last was employed by LPL Financial  discloses  2 prior customer disputes and a recent termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Thomas H. Oliphit was employed by LPL Financial  from 8/2006-12/2016. In 1/2016 Oliphint was discharged by LPL Financial who made the following allegation on his FINRA record: “Violation of Firm policy regarding outside business activity”

Oliphint’s  prior securities industry employment includes, MML Investor Services and New England Securities. He discloses business affiliation Grand Purpose Advocate.

If you have questions about  an account handled by Thomas H. Oliphint call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Leslie R. Rosenblatt of Texas Financial Resources Discloses Customer Dispute/Termination of Employment-Plano, TX

April 2017-Plano, TX

The FINRA records of  Leslie R. Rosenblatt ,  a  stockbroker who is currently registered with SCF Securities disclose a pending customer dispute and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA arbitration 16-03688 a customer of WFG Investments is seeking damages of $75,000 and alleges misrepresentation contained in the offering documents, failure to conduct reasonable due diligence and failure to execute care against WFG Investments and Jefferies LLC.

Rosenblatt made the following statement on his FINRA record in connection with this pending claim: “As an advisor of WFG Investments, Inc. the information that was furnished to me was thought to be accurate and clearly stated. I am very disappointed that WFG may have had incorrect information in their offering documents.”

Rosenblatt has been employed by SCF Securities since 6/2015. Prior to that he was employed by WFG Investments and before that MML Investor Services.   Rosenblatt discloses a business affiliation with Texas Financial Resources and  Wealth Concepts. 

In 4/2014 Rosenblatt was discharged by WFG Investments who made the following allegation on his FINRA record: “The firm has reasonably determined that Mr. Rosenblatt facilitated private securities transactions without prior approval. The firm identified instances where Mr. Rosenblatt signed wire transfer request forms and failed to identify or report what was later determined to be replicated, pre-signed forms. “

If you have losses in an account in an account handled by Leslie R. Rosenblatt , you may be able to recover damages through FINRA arbitration.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Stanley Niekras-Former Purshe Kaplan Broker-Charged in Regulatory Complaint Alleging Financial Abuse of Elderly

November 2016-Watertown, New York

The FINRA records of  Stanley C. Niekras,  a  stockbroker who was formerly  employed by  Purshe Kaplan Sterling Investments disclose 7 prior customer disputes that have been resolved and a currently pending regulatory event.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the currently pending regulatory matter, FINRA case 2013037401001 , FINRA alleges that Niekras attempted to collect $70,000 in estate and financial planning fees from an elderly couple that he was not entitled to.

Niekras told the clients, who were in their 90’s and declining mentally and physically, that he he had spent hundreds of hours working on their estate plan and charged them at the rate of $250 per hour, notwithstanding the fact he had no agreement entitling him to such a fee.

The  prior customer disputes include several cases involving variable annuities which resulted in significant six figure settlements.

Niekras, who is not currently registered,  was last employed by Purshe Kaplan Sterling Investments from 5/2014-10/2015. Prior to that he was employed by MML Investors Services.

If you have losses in an account in an account handled by Stanley C. Niekras  contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Former MML Investors Services Broker From Neptune Beach, FL, Arrested in Iowa for Forgery & Theft

July 1, 2015

The Financial Industry Regulatory Authority (FINRA) entered a default decision against Jeffrey Alan Stewart barring him from associating with any FINRA member in any capacity for converting customer funds, impersonating a customer and failing to respond to FINRA requests for information and testimony. Disciplinary Proceeding 2012035316101. 

According to the FINRA pleadings Stewart was registered with Valic Financial Advisors from July 2009-May 2011. In August 2011, Stewart became registered with MML Investor Services, LLC, where he remained until he was terminated in 12/2012 by MML Investor Services ” in connection with allegations concerning an unauthorized product replacement”.

FINRA found that after leaving Valic to join MML Investor Services, Stewart impersonated one of his clients and converted $54,000 from the customer’s account at Valic.

On August 24 2015, the Iowa City Press-CItizen reported that Jeffrey Alan Stewart, 52, of Neptune Beach, FL, was charged with the felonies of securities fraud ,  forgery and first degree theft. He posted a $30,000 bond in Johnson County Court according to the report.

If you suffered losses in an account handled by Stewart, call to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Phil Williamson Charged in South Florida Securities Fraud

June 1, 2015

Phil D. Williamson, 48, of Miami, Florida, was charged with investment advisor fraud according to an FBI Press Release which reports that he raised over two million dollars from 17 individuals who were led to believe he worked for a nationally recognized financial services firm.

Williamson deposited the victims money in bank accounts in the name of two companies he owned, Sterling Investment Fund and Sterling Financial Partners. Investors were led to believe they would be investing in real estate in Florida and Georgia. He concealed the fraud by issuing false statements and in classic Ponzi scheme style, by paying early investors with money received from new investors.

In a parallel action the SEC charged him with securities fraud and other violations. Williamson agreed to settle those charges and is liable for over $700,000 in disgorgement.

The victims include retired teachers and law enforcement officers who sought safe investments for their retirement savings.

According to FINRA records, Williamson previously was registered with the following firms:

  • Hartford Equity Sales Company
  • OneAmerica Securities
  • MML Investor Services
  • AXA Advisors

If you suffered losses in an account handled by Williamson, you may be able to recover damages from the firm that employed him. Call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870